Market Overview
Market Research Future (MRFR) expects the healthcare OEM market to be worth USD 250 billion by the end of 2027. The healthcare OEM industry will be thriving at an approximate rate of 16.2?tween 2020 and 2027 (assessment period).
Top Growth Boosters and Restraints
Healthcare software firms and medical devices and instruments manufactures are emerging as highly active aspects of the healthcare OEM market. Majority of these healthcare software vendors are focused on creating advanced healthcare software that help better manage clinics, hospitals, nursing homes, and healthcare institutions. This could be a huge opportunity for the healthcare OEM market in the coming few years.
The COVID-19 pandemic has rendered a significant blow to the healthcare sectors in regions such as South America, Asia Pacific, North America, Middle East & Africa, and Europe. With the lockdown imposed, the healthcare OEM market has taken a huge hit and is trying to recover from the financial loss. With that said, the global market can make notable progress in the years ahead, in view of the mounting health consciousness among people and the resultant increase in the adoption of various types of medical devices.
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The healthcare OEM industry also stands to benefit from the rise in technical advances, developments in healthcare IT, higher focus on patient safety, and the urgent requirement for quality medical devices. Efforts to bring down the costs of the healthcare devices, and the rising IT adoption to maintain medical and administrative data will further boost the market size in subsequent years.
Market Segmentation
Key types of healthcare OEM devices covered in the MRFR study are healthcare software along with medical devices and instruments. Some of the major types of medical devices and instruments are surgical devices, and diagnostic instruments and devices. The types of healthcare software products include HR, Front or Back Office Operations, Financial Management, Billing, and Claims Management, OT Management, Provider Management, and more.
With respect to OEM solutions, the global market for Healthcare OEM can be segregated into regulatory compliance and quality control, manufacturing and fabrication, Packaging and sterilization, Product design and development, Project management, Order fulfillment, flexible distribution, as well as technical support.
The top applications of healthcare OEMs are Surgery, Dentistry, Pharmaceutical and cosmetics, Healthcare Administration, Veterinary, Laboratory, Ophthalmology, Dialysis, and many more. Medical device OEM players find extensive applications in all these segments, which will enhance the market share in the years to come.
Regional Insight
America will be the highest gainer in the global market for healthcare OEM in the coming years, thanks to the robust base of several renowned software vendors. The massive demand and use of the latest medical devices and instruments in the United States also adds to the market strength. The rising emphasis on healthcare cost reduction and rising uptake of advanced healthcare IT solutions will further elevate the market demand in the following years.
The Asia Pacific market will be highly lucrative in the next few years, and can potentially achieve the fastest growth rate, as a result of the surge in regular healthcare check-ups along with the technical advances in medical devices. The exponential demand for minimally invasive procedures/treatments and the rise in government support to the healthcare OEMs with respect to funding for research and development activities, the regional market is bound to thrive in the ensuing years.
Renowned Vendors
Tata Consultancy Services Ltd. (India), Xerox Corporation (U.S.), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), Johnson & Johnson (U.S), Toshiba Medical Systems Corporation (Japan), Fujifilm Holdings Corporation (Japan), GE Healthcare (U.K.), Hitachi Medical Systems America Inc. (U.S.), Esaote SpA (Italy), Wipro (U.S), Accenture Plc. (U.S.), Aramark (U.S.), Infosys Ltd. (India), Allscripts Healthcare Solutions (U.S), Dell (U.S), IBM Corporation (U.S), Cognizant Technology Solutions Corporation (U.S.), Baxter International (U.S), Drägerwerk AG & Co. KGaA (Germany) are the top healthcare OEMs in the worldwide market.
Recent Developments
Planet Innovation has acquired BIT Analytical Instruments GmbH’s North American operations. BIT Analytical Instruments GmbH is a renowned medical device manufacturer and its acquisition by PI will help foster the latter’s US manufacturing capacity to back its burgeoning US customer base. With the addition of BIT’s research team and the Californian production unit, PI’s strategy to enhance its manufacturing capacity across the US as well as Australia will receive a solid backing.
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